Center for American Security's Fred Fleitz unpacks the national security risks posed by China's access to TikTok data and Chinese-made drones flying over Washington D.C. World Economic Forum founder and Chair Klaus Schwab recently sat down for an interview with a Chinese state media outlet and proclaimed that China was a "role model" for other nations. Schwab, 84, made these comments during an interview with CGTN's Tian Wei on the sidelines of last week's APEC CEO Summit in Bangkok, Thailand. Schwab said he respected China's "tremendous" achievements at modernizing its economy over the last 40 years. FILE: World Economic Forum (WEF) founder and Executive Chairman Klaus Schwab sits, as German Chancellor Olaf Scholz (not pictured) addresses the delegates, during the last day of the WEF in Davos, Switzerland May 26, 2022. "I think it's a role model for many countries," Schwab said, before qualifying that he thinks each country should make its own decisions about what system it wants to adapt.

There is increasing evidence of the business benefits of responsible AI (RAI), when companies mitigate risks through training and testing data, measuring model bias and accuracy, and model documentation. Companies that adopt responsible AI experience higher returns on their AI investment. Raj Shekhar writes that business leaders globally must coalesce around the imperative to develop rigorous, consistent standards for responsible AI adoption. Much has been spoken and written about the risks to public trust and safety arising from the adoption of artificial intelligence (AI)-based applications across multiple sectors. In finance, the use of AI has led to discriminatory credit decisions.

At a 2020 meeting of the World Economic Forum in Davos, Salesforce founder Marc Benioff declared that "capitalism as we have known it is dead." In its place now is stakeholder capitalism, a form of capitalism that has been spearheaded by Klaus Schwab, founder of the World Economic Forum, over the past 50 years. As Benioff put it, stakeholder capitalism is "a more fair, a more just, a more equitable, a more sustainable way of doing business that values all stakeholders, as well as all shareholders." Unlike shareholder capitalism, which is measured primarily by the monetary profit generated for a business' shareholders alone, stakeholder capitalism requires that business activity should benefit all stakeholders associated with the business. These stakeholders can include the shareholders, the employees, the customers, the local community, the environment, etc.

It took a global pandemic and the death of George Floyd to put deep-seated social inequities, especially systemic racism, front and center for intense public debate. We may or may not be on the cusp of a redressing social injustice by reordering our legacy political and economic systems. Either way, a singular piece of technology – artificial intelligence (AI) -- is destined to profoundly influence which way we go from here. This is not just my casual observation. Those in power fully recognize how AI can be leveraged to preserve status-quo political and economic systems, with all of its built-in flaws, more or less intact.

It took a global pandemic and the death of George Floyd to put deep-seated social inequities, especially systemic racism, front and center for intense public debate. We may or may not be on the cusp of a redressing social injustice by reordering our legacy political and economic systems. Either way, a singular piece of technology – artificial intelligence (AI) -- is destined to profoundly influence which way we go from here. This is not just my casual observation. Those in power fully recognize how AI can be leveraged to preserve status-quo political and economic systems, with all of its built-in flaws, more or less intact.